SALT LAKE CITY, UT--(Marketwired - May 30, 2013) - Pelion Venture Partners today announced the final close of Pelion Venture Partners V. The fund was oversubscribed, exceeding its $175 million target to close at $194 million.

The Pelion team invests nationwide into early-stage technology companies that are applying sophisticated software solutions to various enterprise needs in cloud, internet, mobile, analytics, and networking. Committed to taking the lead investing role, Pelion has invested in many of the world's fastest growing technology companies, including Bitcasa, CloudFlare, Domo, Integral Ad Sciences, 33Across, Stormpath, Soasta, DNN, Conviva, Mojiva, and Venafi. The investing partners have had many successful exits with companies like, RedHat, Fusion-io, Riverbed, CareFX, enCommerce and MXLogic.

Pelion's investment team has deep experience operating significant technology businesses at firms such as Novell, AT&T, WordPerfect, SUN and IBM in both technology and marketing functions. They leverage their deep technical backgrounds and operating experience to help companies make critical business decisions like developing engineering teams, creating go-to-market strategies and developing sales channels. The investment team includes Jim Dreyfous, Carl Ledbetter, Blake Modersitzki, Chris Cooper, Rob Kain, Ben Dahl, and Chad Packard.

"As operators and technologists, the Pelion team has faced and resolved numerous technology challenges that unlock business benefits for the companies we invest in," said Blake Modersitzki, Managing Director, Pelion Venture Partners. "Our experience working with data and information in motion between systems, networks and businesses gives us a unique edge when partnering with technical founders and innovative entrepreneurs developing the next generation of transformative technology."

Pelion Venture Partners V has a diverse set of limited partners including sovereign wealth funds, public pension funds, endowments, funds of funds, and foundations, representing investors from around the world including North America, Europe, and the Middle East.

"Pelion is proud to be investing on behalf of new and returning limited partners who recognized the potential for continued top-tier returns from a fund focused on core technology at the center of dozens of rapidly growing markets," said Carl Ledbetter, Managing Director, Pelion Venture Partners. "We are grateful to them for their commitment to Pelion's investment thesis and their confidence in our team."

ABOUT PELION
Pelion is an early stage technology venture capital firm with a national track record of investing in software-based businesses that manage the exponential growth in the movement of information, or "bits," across wired and wireless networks. Founded in 1986, Pelion has been a partner to leading technology innovators CloudFlare, Fusion-io, MX Logic, RedHat, and Riverbed. More at www.pelionvp.com.